Innovation within the Web3 space continues to flourish into 2025, and the competition within the EVM world is ramping up day by day. The industry is demanding faster, cheaper, and more efficient solutions - and it’s time for the dragon DEX to deliver once again on all these fronts.
QuickSwap has deployed on some of the most prominent and promising Layer 2 chains, most recently Soneium and Immutable zkEVM. The DEX’s journey of chain expansion is only getting started.
Introducing Somnia, a powerful EVM Layer 1 chain offering sub second finality and sub-cent fees. Setting a new standard for optimum performance in Web3.
This governance proposal has been put forth for the dragon community to decide if QuickSwap should deploy on the Somnia blockchain (Testnet first, then Mainnet once live). Continue reading for more details, including what DeFi features will be available and the proposed agreement between both parties.
TL;DR:
- To begin, the governance discussion on the official QuickSwap Reddit will run until Monday, March 17 at 1:30 PM UTC
- Once the Reddit discussions finish, a formal Snapshot vote will run until Friday, March 21 at 1:30 PM UTC
- Once you’ve read this entire blog post, make sure to visit the official QuickSwap Reddit discussion forum and Discord channel to share your perspective with your fellow community members
About The Somnia Blockchain
Somnia is a fastest and efficient EVM Layer 1 blockchain, having the ability to process 1,000,000+ TPS (transactions per second) with sub-second finality. Its use case can expand to all realms of Web3 users and audiences, enabling utility and the development of dApps for gaming, social media, metaverses, NFTs, and more.
The chain consists of 4 important blockchain innovations that allow it to stand out within the industry:
- Accelerated Sequential Execution: Done via compiled EVM bytecode
- IceDB: A faster, more predictable database for storing blockchain state
- MultiStream Consensus: A PoS, partially synchronous BFT protocol inspired by Autobahn BFT
- Advanced Compression Techniques: Help support increased node-to-node data traffic due to throughput
Somnia's Testnet is currently running and open to the public, which came out in 2024. As this version continues to be battle-tested, there are plans to launch on Mainnet in 2025 and bring this revolutionary chain to the world on a massive scale.
Somnia DeFi On QuickSwap
What would Somnia DeFi look like on the dragon DEX? The best possible UI/UX coupled with high rewards/farming incentives for users and LPs, plus much more.
If this governance proposal is voted ‘Yes’ by the community, QuickSwap would start by deploying on the Somnia testnet, with the eventual upgrade to Mainnet once live.
On Somnia Mainnet, users will be able to:
- Swap between their favorite ERC-20 tokens at lightning-fast speeds
- Provide liquidity (LP) to earn a portion of trading fees
- Earn farming rewards by LPing to select token pairs
And that’s just the beginning. As QuickSwap and Somnia further expand the partnership and collaboration, more exciting things will be on the way.
Agreement & Terms
As part of QuickSwap’s deployment on the chain (Testnet and eventually Mainnet), both projects have agreed to move forward with the following:
- Somnia will provide liquidity mining incentives for LPs on the QuickSwap DEX, which will help increase TVL and attract users
- Somnia will seed liquidity on QuickSwap at the onset of the Mainnet deployment
- A grant has been provided to QuickSwap from Somnia to help fund developer resources, ongoing maintenance of the chain, and more
Join the Discussion
As always, QuickSwap community members are encouraged to participate in and contribute to QuickSwap governance discussions and proposals across all of QuickSwap’s online forums, especially on Reddit. As a Dragon, you are a valued community member and your opinion matters – but you have to participate in community voting procedures to make it count.
Critical decisions guiding QuickSwap’s strategic development will always be determined by way of decentralised governance. QuickSwap’s future is in your hands, so make your voice heard!